A Clear Look at Tax Software2007
Annual Survey of New York State Practitioners

By Susan B. Anders and Carol M. Fischer

MAY
2007 - The results of the 2007 annual survey of New York
State tax practitioners indicate that respondents are generally
satisfied with tax compliance and research software, although
ratings declined moderately compared to prior years. This
is probably because this year’s survey respondents
included more small firms and more respondents who are directly
involved in tax preparation and day-to-day use of software.
Survey participants generally report using the most-popular
tax software products, although smaller firms may be relying
on the lower-cost options.

Most
organizations are eventually involved in litigation, and
the increasing frequency of litigation often requires litigation
support and careful records management. Familiarity with
electronic data discovery (EDD) is necessary to conduct
internal investigations, as well as to identify and disclose
electronically stored information (ESI) to litigation opponents,
regulators, or prosecutors. Many potential parties to a
lawsuit are not knowledgeable about electronic records management
(ERM) practices or their legal obligations when served with
a discovery request. Accountants often serve important roles
in litigation support and as expert witnesses. Indeed, Deloitte
and KPMG are among the top 10 EDD service providers.
Full
Story

Pop quiz: What percent of a CPA firm must be owned
by CPAs? As with many CPA-practice issues, the answer depends
on where you live. In New York State, 100% of a CPA firm
must be owned by CPAs, but New York is an exception to the
general rule. Most states have enacted a version of the
Uniform Accountancy Act (UAA), which requires that a simple
majority interest in a CPA firm be held by CPAs. In those
states, non-CPAs can own up to 49% of a CPA firm.Full
Story

Over
the past 10 years, most professionals have probably become
acclimated to using the World Wide Web—e-mailing colleagues
and clients, using search engines to verify information,
downloading forms from the IRS’s website. If all of
these common activities could be considered version 1.0
of the web, then the newest technologies could be called
“Web 2.0.” Full
Story

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